Ethereum, the second-largest cryptocurrency by market capitalization, is inching closer to the $2,500 threshold, currently hovering around $2,450.

Notably, over 1.35 million ETH, equivalent to approximately $3.33 billion, have been restaked into the eigenlayer.

In a recent move, Justin Sun, the founder of Tron, unwrapped 94.5K WSTETH from Lido and promptly deposited it into Eigenlayer, solidifying his position as one of the four largest restakers. 

More than 1.35M $ETH (~$3.33B) have been restaked into @eigenlayer!

Justin Sun (@justinsuntron) unwrapped 94.5K $WSTETH from Lido and then deposited to Eigenlayer ~17hrs ago, making him one of the 4 largest restakers, including:

• Puffer Finance (@puffer_finance): 233.6K ETH… pic.twitter.com/0ZdBZ1ANKG

— Spot On Chain (@spotonchain) February 8, 2024

Other notable entities in the restaking arena include Puffer Finance with 233.6K ETH ($566M), Eigenpie with 88.6K ETH ($215M), and Kelp DAO with 75.3K ETH ($182M).

Ethereum Dencun Upgrade And Schedule

Moreover, Ethereum developers convened during a biweekly consensus layer coordinating call to set a target date for the highly anticipated Dencun upgrade. Scheduled for March 13, the upgrade will mark a significant milestone for the Ethereum network. 

At precisely 13:55 UTC on March 13, when the blockchain reaches slot 8626176, the main Ethereum network will undergo a “hard fork,” signaling the commencement of the Dencun upgrade.

Ethereum developers set a target date of March 13 for its long-awaited Dencun upgrade during a bi-weekly consensus layer coordinating call on Thursday. The precise moment of the Dencun upgrade on the main Ethereum network – also known as a "hard fork" – will trigger when the…

— Wu Blockchain (@WuBlockchain) February 8, 2024

This development underscores Ethereum’s continuous evolution and commitment to enhancing its network capabilities. The impending upgrade is poised to introduce significant improvements and optimizations, further cementing Ethereum’s position as a leading blockchain platform.

As Ethereum’s price continues its upward trajectory and restaking trends gain momentum, the cryptocurrency community eagerly awaits the implementation of the Dencun upgrade.

With March 13 serving as the designated milestone date, all eyes are on Ethereum as it enters a pivotal phase of development and growth.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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